REBusinessOnline

Hanley Investment Group Negotiates $2.9M Sale of Single-Tenant Retail Property in Rialto, California

1877-N-Riverside-Ave-Rialto-CA

The Coffee Bean & Tea Leaf occupies the newly constructed retail building, located at 1877 N. Riverside Ave. in Rialto, Calif.

RIALTO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a recently constructed retail building located at 1877 N. Riverside Ave. in Rialto. Newport Beach-based Fountainhead Development sold the property to a Chatsworth-based private investor for $2.9 million, or nearly $1,700 per square foot.

Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while Ash Joshi of San Fernando-based Capital Realty Solutions Inc. represented the buyer in the deal.

The Coffee Bean & Tea Leaf occupies the 1,710-square-foot building, which features a drive-thru lane, under a 15-year lease.

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